Real estate activity

Real estate activity

Real estate activity: Supply the business line of real estate business for enterprises

Nowadays, real estate business provides investment business owners a massive of profit. However, an enterprise which wants to do real estate business needs to carry out the procedures of supplying the real estate business line and must meet conditions according to the regulations of laws. HNLaw & Partners would like to guide Customers as follows:

Legal bases

  1. Law on Enterprises 2014;
  2. Decree 78/2015/NĐ-CP, decree on enterprises registration;
  3. Law on Investment;
  4. Law on Real Estate Business 2014

Contents

1.      Dossier, order to supply the real estate business line

To carry out the supplement of real estate business line, firstly we must know clearly such business line’s details, specific code for the extract registration and applying the right code in the dossier of supplement of real estate business line

Business code that an enterprise applies for the supplement of real estate business line:

Business line Four-level code
Doing business on real estate, right on land use which belongs to the owner, owner of use or leasing 6810
Consult, broker and auction real estate, auction the right of land use 6820

Dosier for the supplement of real estate business line (Article 49 Decree 78/2015/ND-CP)

  • Announcement on the change of the enterprise registration
  • Decision and a valid copy of the meeting minutes of the Board of members for multi-member limited liability companies, of the General Meeting of Shareholders for joint stock companies and of general partners with partnerships; decisions of the company owner with single-member limited liability companies on the addition or change of business lines. The decision and minutes of meeting must specify the changes in the company’s charter.
  • Power of attorney for individuals to submit and receive results (if any).

2. Conditions of real estate business

It should be noted that the real estate business is a conditional business. Conditions for enterprises to do business in real estate are prescribed in the Law on Real Estate Business 2014. Specifically:

+ Conditions on the registered charter capital

According to Clause 1, Article 10 of the Law on Real Estate Business 2014, organizations and individuals doing real estate business must establish enterprises or cooperate and have legal capital of not less than VND 20 billion.

If an enterprise supplies a real estate business that requires a charter capital of less than VND 20 billion, it is required to carry out additional procedures to increase its charter capital to VND 20 billion or more.

+ Conditions on the practicing certificates relating to real estate business

To the real estate broker:

After having completed the supplement of the business lines, if the company wants to active the real estate broker, it must ensure that there are two people in the company having certificate on real estate broker according to Article 62 Law on Real Estate Business 2014.

To the business line of Services on Real Estate Exchange:

Enterprises doing business on Services on Real Estate Exchange must have at least 02 people which having the practicing certificate of real estate broker; the managers, operators of the real estate exchange must have the practicing certificate of real estate broker according to Article 69 Law on Real Estate Business 2014.

Note: A person which has certificate on real estate broker can be the owner of the company or an employee of the company who is appointed to the manager position.

Above are contents consult on “Supplement of the real estate business for enterprises” of HNLaw & Partners. Customer who has any question or demand to use legal services please contact directly to Company for more details and best support.

For more details please contact:

HNLAW & PARTNERS LAW FIRM

Address: DBS Building, N028, Lot 31, Commercial Services and Housing Area in Ha Tri, Ha Tri Ward, Ha Dong, Hanoi.

Email: tuvan.hnlaw@gmail.com

Hotline: 0912.918.296

http://www.hnlaw.vn/en/enterprise-consultancy/

https://en.wikipedia.org/wiki/Enterprise

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